Crypto market maker GSR recieves Singapore crypto license
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The crypto market maker received in-principal approval from MAS in September.
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GSR recently appointed a former JP Morgan executive to be its head of trading.
Crypto market maker and liquidity provider GSR has been awarded a Major Payment Institution license by the Monetary Authority of Singapore (MAS).
GSR now holds Singapore’s Digital Payment Token Service license, which authorizes firms to buy and sell “digital payment tokens,” which is what the government calls crypto and is also the license exchanges use.
The market maker first received in-principal approval from MAS in September.
Typically, liquidity providers and market makers are not licensed entities as they are not customer-facing entities. Recently, Singapore expanded the scope of its licensing regime to include custodial services and cross-border money transfers.
Author
CoinDesk Analysis Team
CoinDesk
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